Hologic unit sale sought above $4B as Blackstone, TPG unlock cash

A price tag above $4B puts the Hologic surgical-unit process firmly inside the Tier-1 M&A screen. The Financial Times reported that Blackstone and TPG are seeking more than $4B for the sale of Hologic’s gynecological surgical equipment business as they look to reduce debt and return cash to investors.

The context is the $18.3B leveraged buyout of Hologic in 2025, one of that year’s largest public-to-private transactions. A sale of the surgical unit would carve cash out of the asset base relatively early in the ownership period and test buyer appetite for medtech assets in a higher-rate private-equity market.

FT reported that the process is at an early stage and has drawn interest from both private-equity and strategic buyers. The valuation target is material because it is far above the crawler’s $500M M&A threshold and because it shows sponsors still using partial exits to manage leverage after large take-private deals.

The broader market signal is healthcare M&A resilience. FT cited healthcare deal value up 83.2% year over year to $271B, while private equity’s share of global M&A slipped to 21% from 24.8%. That mix suggests sponsors are still active but more selective about monetizations and balance-sheet repair.

Next checks are whether Blackstone and TPG launch a formal auction, whether strategic medtech buyers stay in the process, and whether binding bids keep the valuation above $4B.

Not investment advice. Verify all figures with primary sources before acting.